Lumbini Bikas Bank’s bid opening for 3.62 lakh unit promoter share concludes; Only 17,000 units allotted for cut-off of Rs 100

Lumbini Bi...

Lumbini Bikas Bank (LBBL) had been selling its promoter shares via auction. The bank had been selling 3,62,436.44 units through the auction.

Vibor Capital was appointed as the issue manager for the auction.

The bids for the auction were opened yesterday. The cut-off price for the auctioned shares stands at Rs 100. So, all the bidders have been allotted with the applied units.

The maximum bid was placed for Rs 114.

Only 17,000 units have been allotted to the bidders. The remaining 3.45 lakh units will be re-auctioned soon.

After adjustment of 10% right shares, its paid-up capital will reach to Rs 2.21 arba. To meet the capital requirement of Rs 2.50 arba, it should further hike its capital by Rs 29 crore (around 13%).